Echostar prepares potential bankruptcy filing

[jeslevine]

"
(Reuters) -EchoStar is considering a Chapter 11 bankruptcy filing as the telecommunications services firm vies to shield its cache of wireless spectrum licenses from the threat of revocation by federal regulators, the Wall Street Journal reported on Friday, citing people familiar with the matter.

The company declined to comment on the report.

Last month, the Federal Communications Commission (FCC) notified EchoStar it was investigating the company's compliance with certain federal obligations to provide 5G service in the U.S., questioning EchoStar's buildout extension and mobile-satellite service.

FCC's actions have severely limited the company's ability to make strategic decisions regarding the growth and investment of its Boost Mobile business, according to a regulatory filing by the company last month."

https://finance.yahoo.com/news/echostar-prepares-potential-bankruptcy-filing-000632911.html

 

[Scott Greczkowski]

Smart move. They should have done it awhile ago.

 

[jeslevine]

Smart move. They should have done it awhile ago.

Hasn't happened yet Scott, but if does this should protect them.

John

 

[navychop]

Not sure this is settled law

 

[HipKat]

Last month, the Federal Communications Commission (FCC) notified EchoStar it was investigating the company's compliance with certain federal obligations to provide 5G service in the U.S., questioning EchoStar's buildout extension and mobile-satellite service.

Sorry, Elon, Boost IS the Nationwide 5G service.
Stick to Satellites and fix your rockets

 

[Scott Greczkowski]

Hasn't happened yet Scott, but if does this should protect them.

John

Yes it should protect them.

With that said when all is said and done... I expect DISH to own DIRECTV before its all over.

 

[HipKat]

Yes it should protect them.

With that said when all is said and done... I expect DISH to own DIRECTV before its all over.

You aren't the only one. {{{wink}}}